Target Group has has joined with Freedom Finance to support the launch of BumbleBee Loans, a new unsecured lender.
BumbleBee will offer unsecured loans to consumers initially through Freedom’s loan portal. Target and Freedom Finance have together designed and built all of the processes and infrastructure.
Freedom Finance, as well as sourcing applicants through its loan portal, will also package the applications for the lender and Target will be responsible for post completion primary and special servicing.
Ian Larkin, Co-Group CEO, Target Group, said: “BumbleBee is a hugely exciting project and we are very proud to have played a major role in its creation. We have been able to seamlessly weave together a distributor in the shape of Freedom Finance and an innovative lender BumbleBee, to create a fully functioning, compliant and competitive unsecured lender for consumers.”
“We are delighted to be involved in the launch of BumbleBee,” said Nicola Georgiou, managing director at Freedom Finance.
“This new lender will allow Freedom Finance to offer even more choice to borrowers when searching for the right loan for their personal circumstances. Borrowers will be able to source BumbleBee loans through the Freedom Finance website or our dedicated call centre.”
Howard Garland, CEO of BumbleBee Loans Ltd, added: “Drawing on the experience of both Target and Freedom Finance, we have been able to launch BumbleBee quickly and smoothly. Using their expertise, we will be able to offer our customers a competitive and skilled service right from the start, allowing us to compete with other players in the market.
“I look forward to working with both groups in the future as we grow and further strengthen our offering.”